Blog
Tax Changes on the Horizon: What You Need to Know
The Government has indicated that tax increases are likely to be part of this month’s budget, with a focus on those with the "broadest shoulders." We examine where these changes might impact you and how you can prepare. Capital Gains Tax: Capital Gains Tax (CGT) is...
Do you need to update your Companies Persons of Significant Control Conditions?
Persons of Significant Control (PSC) are individuals or entities that have significant influence or control over a company or organization. This concept is a key part of corporate transparency and governance, aimed at identifying those who have a significant stake or...
Creating different share classes for dividends
Creating different classes of shares, often referred to as "alphabet shares" (e.g., A shares, B shares, C shares, etc.), provides flexibility in distributing dividends. This approach allows companies to tailor dividends to individual shareholders as directed by the...
Academy Trust Update
In this webinar, the Ellacotts team discuss the latest academy updates you need to be aware of, including changes in the new Academy Accounts Direction and the new Academies Financial Handbook.
Ensuring your company keeps records of decisions made
All companies must keep records of important decisions made including companies where the company has only one director. Before electronic records, minutes of a meeting would have been recorded in a physical minute book. Companies have moved away from keeping a...
VAT on Private school fees
From 1st January 2025, VAT at the standard rate of 20% must be charged on private school fees. New draft legislation removes the existing exemption contained within Schedule 9 of the VAT Act 1994. It is confirmed VAT will be due on upfront fees paid on or after...
The Importance of Keeping Statutory Registers in the UK
In the United Kingdom, statutory registers play a crucial role in the legal and operational framework of businesses. These registers are mandated by law and serve as an official record of various essential details concerning a company. Their importance cannot be...
The 2022 Harvest – benchmarking
We have now completed our gross margin accounts for the 2022 harvest across our portfolio of arable clients. The database for 2022 is based on an area of over 90,000 acres.
Pension Death Benefits – remaining in pension
Since 2015, more clients have been using pensions as tools for passing money down the generations. It is generally assumed that because the money is in a pension, it can pass down and remain within the pension wrapper, but this is not always the case. Too often, it is...
Capital Gains Tax – In the news
There continue to be significant changes to the already complex Capital Gains Tax (CGT) rules. Capital Gains Tax explained CGT applies where you dispose of particular capital assets at a profit. The rates charged depend on your level of income and the type of...
Trade and Customs: Commodity Codes
A figure of Captain America (think Marvel comic books), the Tin Man, some Norse gods and Grey Worm from ‘Game of Thrones’ all came before the tax tribunal recently. It was a case about commodity codes, and the dispute turned on whether they were dolls representing...
HMRC eyes potentially underdeclared dividend income
HMRC is using its data analytic powers to contact taxpayers where it thinks there’s a chance that income has been overlooked. What it’s interested in is income from distributions or dividends. It has been looking at company accounts, and where it has identified a...
Budget Surprises
If they weren’t exactly rabbits out of the hat, Spring Budget 2024 still sprang its share of surprises. VAT registration limit Having been frozen at £85,000 since 2017, the VAT registration threshold wasn’t expected to change until at least March 2026. The Chancellor...
Cherwell Business Awards 2024
The Cherwell Business Awards is the original business awards for Cherwell District, serving to showcase and celebrate business excellence.
Research and Development (R&D) Tax Reliefs – The New Merged Scheme
R&D tax relief is a government incentive providing companies with tax breaks to encourage investment in innovative projects in the field of science and technology.
Companies House Fees to Increase from 1 May 2024
Companies House has revealed changes to its fees from 1 May 2024 stating that these increases are intended to align with the actual costs of delivering their services.
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Banbury
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Kettering
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